Description

Global Succinic Acid Market 2017-2021 Description

Succinic acid is also known as butanedioic acid, 1,2-ethanedicarboxylic acid, and amber acid. Succinic acid is conventionally manufactured by the catalytic hydrogenation of maleic anhydride. It can also be manufactured using either petroleum feedstock or bio-based feedstock. The diminishing supplies of oil and gas have forced manufacturers to look for alternative sources of manufacturing succinic acid. The bio-based method is the way toward manufacturing using sustainable and renewable resources.Technavio’s analysts forecast the global succinic acid market to grow at a CAGR of 27.32% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global succinic acid market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:

APAC

Europe

North America

ROW

Technavio's report, Global Succinic Acid Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

BioAmber

KAWASAKI KASEI CHEMICALS

Myriant

Reverdia

Succinity

Other prominent vendors

Anhui Sunsing Chemicals

Anqing Hexing Chemical

Gadiv Petrochemical Industries

New Japan Chemical

Nippon Shokubai

Shandong Yuhuang Chemical

Thirumalai Chemicals

Market driver

Increasing environmental concerns

For a full, detailed list, view our report

Market challenge

Volatile prices of raw materials

For a full, detailed list, view our report

Market trend

Rising demand for polybutylene succinate

For a full, detailed list, view our report

Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?

What are the key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by the key vendors?

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is rising demand for polybutylene succinate. New biotechnological courses now permit the production of succinic acid based on sustainable feedstocks, such as glucose, sucrose, and bio-based glycerol. Bio-based succinic acid is favored due to reducing carbon footprint. In this view, the succinic acid produced sustainably for the manufacture of biopolymers is gaining popularity.”

According to the report, one driver in the market is increasing environmental concerns. Rising ozone-depleting substance (ODS) fixations, unpredictable oil costs, security of supply, and the need to assemble a manageable worldwide economy are the key driving factors for the shift from petroleum-based economy to a bio-based economy. The development of productive and efficient biorefineries is essential for the creation of a bio-based economy. The cost of delivering regular petrochemicals is comparatively lower than bio-based compounds, because of streamlining and incorporation of multiple production lines.

Further, the report states that one challenge in the market is volatile prices of raw materials. The fluctuation in raw material prices is expected to be a hindrance for the global succinic acid market especially when the feedstock is crude oil-based. Fluctuation in the prices of crude oil, over the years, has had significant negative impact on the operating costs of the vendors and their profit margins. Crude oil prices affect the prices of raw materials, such as methylene diphenyl diisocyanate and toluene diisocyanate, in the case of succinic acid, maleic anhydride.